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. >>> on the "cbs moneywatch" the shrinking deficit and warren buffett makes a big donation in that >> asian markets fought back despite concerns about china's efforts to reform credits. hong kong's hang seng earned 2%. >>> wall street with financial tightened wells fargo and chase the dow rose 88 points while the nasdaq added five points. >>> the deficit is down according to a new white house projection. the federal government is spending $759 billion more than it is taking in this year. that's down more than $200 billion from earlier predictions. the improvement is credited to the automatic spending cuts triggered by the financial cliff and increasing revenue from an improving economy. >>> consumers are whipping out their credit cards more often. sending consumer borrowing surging. credit use has surged since 2010. americans borrowing at the fastest rate in a year. experts say a jump in borrowing means people are feeling more confident in the economy. >>> the land line is going away with the telegraph and a lot sooner than we think. an industry trade group predicts by the end of this year just 25%
that doesn't use profits from higher loan interest rates to pay down the federal deficit. >> in this bipartisan group, we all agree that profit shoes for the be made on the backs of students trying to go to school. that's a big difference of what came from the house. >> senate majority leader harry reid says he won't introduce any bill that ties student loan rates to the markets. the white house says it's not favoring one particular proposal. it just wants congress to fix this as soon as possible. >>> the biggest u.s. grocer is moving into the greater washington area. kroeger announced it will buy the harris teeter chain for $2.4 billion. the deal will give kroeger a presence in northern virginia and move is into the district, maryland and delaware for the very first time. as part of the agreement, kroeger will assume $100 million of harris teeter's debt. kroeger says it also has no plans to close any stores. >> i like kroegers. i like them. that's cool. >>> still ahead, today's testimony in the george zimmerman trial could turn on a ruling about some text messages. we'll
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